Karachi: Ghandhara Tyre and Rubber Company Limited successfully conducted its 61st Annual General Meeting (AGM) via video link from ICAP Auditorium, Clifton, Karachi, on October 28, 2024. The meeting was marked by the adoption of significant resolutions impacting the company's future operations and financial distributions.

According to information available from the Pakistan Stock Exchange (PSX), the shareholders confirmed the minutes of the previous AGM and adopted the Annual Audited Accounts for the fiscal year ended June 30, 2024. The financial documents, accompanied by the Directors’ and Auditors’ reports as well as a Review Report by the Chairman, received full approval from the members.

In further proceedings, M/s. Shinewing Hameed Chaudhri and Co., Chartered Accountants, were appointed as the statutory auditors for the next fiscal year ending June 30, 2025. Their remuneration and reimbursement for expenses will be determined by the Board of Directors.

A significant financial resolution was also passed regarding the distribution of dividends. The company declared a final cash dividend of Rs. 1.87 per share, which translates to an annual yield of 18.70%. This decision reflects the Board's confidence in the company's financial health and its commitment to delivering shareholder value.

The resolutions adopted at this AGM underscore Ghandhara Tyre and Rubber Company's ongoing commitment to robust corporate governance and financial transparency. The outcomes of this meeting are expected to reinforce investor confidence and guide the company towards sustained growth in the upcoming year.